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Key Economic Trends

  • The U.S. trade surplus in agricultural products, which increased by $8.0 billion (51 percent) to $23.9 billion in 2010, was principally driven by higher commodity prices for many products, as the global economic recovery took hold.
  • The $18.3 billion (18 percent) growth in U.S. exports was fueled by increased exports of cereal, cotton, and oilseeds (primarily soybeans) in 2010. The largest absolute shift in U.S. agricultural exports in 2010 was the $2.7 billion (16 percent) rise in U.S. exports of cereals (food and feed grain), which were mainly driven by a rise in export volume.
  • U.S. imports rose by $10.3 billion (12 percent) due to a mix of higher volumes for some imported commodities—such as tomatoes and fresh peppers—and higher prices for other commodities, such as coffee and cocoa. Vegetables registered the largest absolute increase in U.S. imports during 2010, increasing by $1.0 billion (22 percent).

Trade Shifts from 2009 to 2010

  • U.S. trade surplus: Increased by $8.0 billion (51 percent) to $23.9 billion
  • U.S. exports: Increased by $18.3 billion (18 percent) to $121.5 billion
  • U.S. imports: Increased by $10.3 billion (12 percent) to $97.6 billion

Selected Product Shifts

USITC Publications

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